Economy / Markets
Amazon adds $110 billion in value as Wall Street rewards AI capex despite negative free cash flow
Amazon closed Friday up 3.97% at $266.43, adding roughly $110 billion in market value after Fed Chair Kevin Warsh said AI growth had exceeded even its proponents' expectations. Trailing twelve-month free cash flow swung from an $18.2 billion inflow to a $7.6 billion outflow as AI-related property and equipment purchases rose by $66.1 billion, leaving cash conversion the central valuation question for the next quarter.